2023 is going to be the year of change for StayWell Holdings as they gear up for a robust expansion.
Their medium to long-term expansion strategy will include (but not be limited to) setting up 250 hotels over several key bespoke hospitality destinations in the Middle East, Asia Pacific and Europe.
StayWell’s expansion comes at a time when tourist footfall at popular destinations like Bangkok, Singapore, and Saudi Arabia is expected to gain momentum in the coming years. They already have four hotel properties in the UAE and would soon be adding to their luxury brand – The Prince Akatoki.
The expansion project, expected to be completed by 2032, will primarily focus on an asset-light model for growth and a major portion of the portfolio will be managed directly by the group. Most of the new properties will be spread across popular leisure destinations with enormous tourism potential.
“Our approach is to increase our domestic presence with local opportunities, to establish a strong presence in the regions that are aligned with our expansion strategy especially in new growing markets of Middle East, Thailand and Singapore along with Europe. These markets hold high strategic importance for the brand’s growth while also fitting well in our diversification plan,” says Rohit Vig, Vice President, Development, StayWell Holdings, who has been instrumental in building the StayWell Group business in India, Middle East, and South East Asia since its inception.
